Unused Line Fee Rate means (i) initially, 0.50% per annum on the average daily unused Availability, calculated based upon the actual number of days elapsed over a 360-day year payable quarterly in arrears and (ii) from and after the delivery by the Lead Borrower to the Administrative Agent of the Borrowing Base Certificate for the first full fiscal quarter completed after the Closing Date, determined by reference to the following grid on a per annum basis based on the Average Usage as a percentage of the Revolving Commitments during the immediately preceding fiscal quarter: Average Usage Unused Line Fee Rate < 50% 0.50% ³ 50% 0.375%
Unused Line Fee Rate means 0.25% per annum on the average daily unused Availability, calculated based upon the actual number of days elapsed over a 360-day year payable quarterly in arrears.
Examples of Unused Line Fee Rate in a sentence
Beginning January 1, 2022, Borrowers shall pay to Agent, for the account of the Lenders, a fee equal to the Unused Line Fee Rate times the amount by which the Commitments exceed the average daily Revolver Usage during any month.
More Definitions of Unused Line Fee Rate
Unused Line Fee Rate means 0.50%.
Unused Line Fee Rate in Section 1.1 of the Loan Agreement. The definition of “Unused Line Fee Rate” in Section 1.1 of the Loan Agreement is hereby amended and restated in its entirety to read as follows:
Unused Line Fee Rate means, as of any date of determination under Section 2.10(b) of the Agreement, 0.250%.
Unused Line Fee Rate means 0.50% per annum on the average daily unused Availability, calculated based upon the actual number of days elapsed over a 360-day year payable monthly in arrears.
Unused Line Fee Rate means 0.25% per annum, calculated based upon the actual number of days elapsed over a 360-day.
Unused Line Fee Rate means a per annum rate equal to (i) 0.375% if the sum of the average daily balance of Revolver Loans and stated amount of Letters of Credit for the most recent month is less than the amount equal to 50% of the aggregate Revolver Commitments or (ii) 0.250% if the sum of the average daily balance of Revolver Loans and stated amount of Letters of Credit for the most recent month is greater than or equal to the amount equal to 50% of the aggregate Revolver Commitments.
Unused Line Fee Rate means, as of any date of determination under Section 2.10(b) of the Agreement, the applicable rate set forth in the following table that corresponds to the average Daily Balance of the Revolver Usage during the immediately preceding month (or portion thereof): Average Daily Balance of the Revolver Usage during the immediately preceding month (or portion thereof) Unused Line Fee Rate Greater than 40% of the aggregate Revolver Commitments 0.250% Less than or equal to 40% of the aggregate Revolver Commitments 0.375%